Why Fixer-Upper Homes Have Become Unpopular

The demand for fixer-upper homes has decreased significantly in today's housing market. However, they have traditionally been popular among buyers seeking a money-saving opportunity to customize their homes to their liking. Recent surveys indicate that 77% of homebuyers are not interested in purchasing a home that requires renovation. This trend has made it challenging for real estate agents to sell outdated homes that need renovation.

Buying or Selling a Fixer-Upper

Most of today's buyers are millennials, baby boomers, and first-time homebuyers who prefer move-in-ready homes. First-time homebuyers, in particular, are looking for something other than the stress of fixing up a home. Millennials, often referred to as the HGTV generation, want the outcome of a renovation without the hassle and consider even minor repairs a deal-breaker. Baby boomers downsizing into retirement no longer have the time or desire to invest in home maintenance and updates.

Apart from buyer preferences, many homebuyers need assistance in affording fixer-uppers due to high mortgage rates, property prices, and taxes. Inflation, job security concerns, and high construction loan rates make buyers more hesitant to invest in outdated homes.

Fix Before You List

For sellers, this trend means that homes requiring repairs or renovations will sell slower or for less than move-in-ready homes. If you plan to sell, making simple repairs or minor updates can attract more potential buyers. Additionally, pay-at-closing home improvement services such as Curbio can perform needed repairs while deferring payment until you close on the property.

Fix Now - Pay When You Sell